Global Cloud Storage Market Size, Share 2020-2023: Explains Recent Trend and Future Growth, Feasibility, Regional Outlook and Future Forecast

Global report on "Cloud Storage" Market 2019-2023 mainly presents value, growth, volume and market share by players, by regions, by product type, by consumers and also their price change details. As a Detailed Analysis report, it covers all key attributes analysis and opinion for Cloud Storage industry. The research provides strategically important competitor insights to formulate effective RandD strategies. Likewise, the report reviews key companies involved in Cloud Storage and enlists all their major and minor projects. The objectives of this study are to define, segment, and project the size of the Cloud Storage market based on company, product type, end user and key regions.

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Top Manufacturers Listed in the Cloud Storage Market Report are:
o Alphabet
o Inc.
o Amazon Web Services
o Inc.
o Dropbox
o Inc.
o EMC Corporation
o Hewlett Packard Enterprise Company
o HP Enterprise Company
o IBM Corporation
o Microsoft Corporation
o Oracle Corporation
o Rackspace Hosting
o Inc.
o VMware
o Inc.

The global cloud storage market was worth USD 30.08 billion in 2019 and is projected to reach USD 101.59 billion by 2023 at a CAGR of 22.49% over the period of 2018 - 2023. The report discusses the various types of solutions and services provided by the companies. While the regions considered in the scope of the report include North America, Europe, and various others. The study also emphasizes on how the growing demand for low-cost storage and faster data accessibility is changing the market scenario.
It is projected that by 2022, more than 72% of the global organizations will migrate to cloud from on-premise data centers, cementing the rise of cloud storage. Increasing demand for low-cost data backup, storage, and protection across all enterprises, coupled with the necessity to handle data generated by augmented usage of mobile technologies, favors cloud storage adoption. Moreover, hybrid cloud storage is expected to occupy a significant share of the total cloud storage market in the next five years, due to its greater flexibility in comparison to both public and private cloud storage. However, privacy and security threats, along with the lack of high network bandwidth, can hinder the growth of the market.
Increase In Cloud Adoption Across Organizations
Cloud platforms have enabled new, complex business models and orchestrating more global-based integration networks in recent years. Moreover, cloud services adoption is increasing in the mid-tier and small & medium businesses (SMB), driving the cloud storage market. In addition, cloud acts as is a catalyst for IT transformation, providing the flexibility to combine the preferred clouds and existing on-premises infrastructure in the ratio best suited for the workload. Furthermore, the rising focus on cost optimization and business agility have led to the expansion of cloud data centers. Also, cloud services adapt easily to the changing landscape to meet new requirements. This allows the client organization to focus on their core competency, which, in turn, results in their overall growth.
Growing Demand For Managed Services
Managed services involve outsourcing of the organization's day-to-day management functions and services, such as those related to infrastructure, security, printing, mobility, and other functions, while the ownership rights stay with the end user. With the unstructured data expanding by more than 50% annually, managed service providers are looking at cloud storage as an upfront revenue opportunity. This was further augmented by the greater need for storage control with GDPR requirements. The foray of advanced technologies prompt companies to emphasize on updating their storage system, to match with the competition. Hybrid cloud is one such trend that provides a significant boost to the market growth. However, security and the lack of network bandwidth for data transfer can challenge the growth of the market.
Asia-Pacific is the Fastest Growing Market
The region is poised to witness the fastest growth rate owing to developments in India and China. Over the last two years, the public cloud services market in India has seen phenomenal growth, reaching USD 1.8 billion in 2019, and this figure is expected to reach USD 4.1 billion by 2020. Today, India is second only to China as the largest and fastest-growing cloud services market in the Asia-Pacific. With a robust GDP of 7.2% in Q3 FY18 and rapidly rising internet penetration, India is poised for booming expansion in this sector. Moreover, global majors such as Google, Alibaba, Amazon, and Microsoft have all opened data centers in the country. Although the country is still overcoming inconsistencies in high-speed internet connectivity, power supply, bandwidth, and optical fiber connections, interest in the cloud is being driven by the increasing need for business innovation and agility, the ability to scale fast in a competitive market, and the government's thrust towards Digital India.
Key Developments in the Market
o December 2019: Microsoft announced the general availability of Archive Blob Storage starting at a price of USD 0.002 per gigabyte per month. Last year, the company launched Cool Blob Storage to help customers reduce storage costs by tiering their infrequently accessed data to the Cool tier.
o November 2019: Amazon's cloud storage announced that it is releasing a new service called the Amazon Web Services Secret Region, a cloud storage service designed to handle classified information for the spy agencies of the United States.

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Regional Segmentation Includes:
- United States
- Europe
- China
- Japan
- South Korea
- Other Regions
Reasons to Purchase the Cloud Storage Market Report:
- The report analyses how the shift towards safety will drive the global automotive anti-lock braking system market size and Share.
- Analyzing various perspectives of the market with the help of Porter's five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness fastest Cloud Storage Market growth during the forecast period.
- Identify the latest developments, Cloud Storage market shares and strategies employed by the major market players.

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Major Points from Table of Contents:
1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Drivers
4.2.1 Increase in Cloud Adoption Across Organizations
4.2.2 Increase in Demand for Hybrid Cloud
4.2.3 Growing Demand for Low-cost Storage and Faster Data Accessibility
4.3 Restraints
4.3.1 Privacy and Security Concerns regarding Cloud Storage
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products or Services
4.4.5 Competitive Rivalry
5. Global Cloud Storage Market Segmentation
5.1 By Solution
5.1.1 Cloud Storage Gateway
5.1.2 Primary Storage
5.1.3 Backup Storage
5.1.4 Data Archiving
5.2 By Service
5.2.1 Managed Services
5.2.2 Professional Services
5.3 By Deployment
5.3.1 Private Cloud
5.3.2 Public Cloud
5.3.3 Hybrid Cloud
5.4 By End User
5.4.1 BFSI
5.4.2 Retail and Consumer Goods
5.4.3 Healthcare
5.4.4 Media & Entertainment
5.4.5 IT & Telecommunication
5.4.6 Manufacturing
5.4.7 Government
5.4.8 Others
5.5 By Region
5.5.1 North America
5.5.2 Europe
5.5.3 Asia-Pacific
5.5.4 Latin America
5.5.5 Middle-East & Africa
6. Competitive Intelligence - Company Profiles
6.1 Alphabet, Inc.
6.2 Amazon Web Services, Inc.
6.3 Dropbox, Inc.
6.4 EMC Corporation
6.5 Hewlett Packard Enterprise Company
6.6 HP Enterprise Company
6.7 IBM Corporation
6.8 Microsoft Corporation
6.9 Oracle Corporation
6.10 Rackspace Hosting, Inc.
6.11 VMware, Inc.
*List not Exhaustive
7. Investment Analysis
8. Future of the Market

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